Total Members: 158,532

MarJac

  • MarJac replied to the topic Legal Fees in the forum Unless fixed rate Early 12 years, 7 months ago

    Unless fixed rate Early Repayment Fees are now not applicable for new loansA Discharge / Exit Fee of $295 is usually charged to cover 'File Handing' (instructing solicitors & payout figures etc)when discharging the loan/mortgage etc. In addition expect approx $200-$300 legal solicitors fees, although these could be higher The Solicitors fees u…[Read more]

  • MarJac replied to the topic Transfer of title in Victoria in the forum Legal & Accounting 12 years, 8 months ago

    Thats about rightHowever you'll also need to have the transfer assessed by the State Revenue Office which should note on the transfer that, in this instance, should be excempt.  You should be able to find how to do this on the SRO websiteYou may find that Land Titles Office will not register the transfer until it has the appropriate stamp from…[Read more]

  • MarJac replied to the topic My idea (pick it apart – tips please) REALLY REALLY NEED HELP in the forum Help Needed! 12 years, 9 months ago

    In QLD you can now get $10,000 QLD Building Boost payment for building or buying a new house. This is separate from FHOG. Relatively small amount but may help to tip the balance

  • MarJac replied to the topic DIY change from joint to common in the forum Legal & Accounting 12 years, 10 months ago

    Will depend on which State, however would suggest that you look at the web sites of the Land Titles Office in your State, most have some sort of guide for completing & logding documents etc.Your Bank will need to consent to the change, and produce the Title etc (if applicable), but as the proprietors are not changing this shouldn't be a problem wi…[Read more]

  • MarJac replied to the topic Managing Agent Etiquette in the forum Help Needed! 12 years, 10 months ago

    Have you signed any sort of agreement with the managing agent?Property managers, often being part of a Real Estate Agency, will usually request exclusive rights to Lease/Tennant the property and will get an agreement signed which will also set out their fees & commision etcIf you signed anything you may have to stay with the agent, however the…[Read more]

  • MarJac replied to the topic Many improvements. How do we value them? in the forum Would be fairly difficult 12 years, 10 months ago

    Would be fairly difficult with such a diverse usage and varied improvementsI could only suggest that a true value could only be arrived at from a registered valuer experienced in both rural & commercial properties, this could be $$$++ The valuer would look at possible value as just a farm but also include the Tourist facilities, probably on a…[Read more]

  • MarJac replied to the topic Unit Requires Partial New Roof in the forum Help Needed! 12 years, 10 months ago

    May depend on which State and the rules appling, however unless emergancy repairs and/or safety hazard would usually be an unanimous agreement. Best to discuss with the B/C managerIf this particular owner wanted to replace their roof with simular materials i.e. Replace colourbond with colourbond of the same colour  or titles with the same t…[Read more]

  • MarJac replied to the topic Transferring title between spouses in the forum Legal & Accounting 12 years, 10 months ago

    Depends on which State and the actual circumstances (PPOR or IP etc) and if already jointly owned, best check with your State Revenue Office or solicitorIn VIC for example S/duty is often exempt if transfering from single to joint proprietorship i.e. 'Love & Affection' transfer for a PPOR

  • MarJac replied to the topic Double stamp duty – nominee (VIC) in the forum Legal & Accounting 12 years, 10 months ago

    Probably best to obtain professional advice from your solicitor and/or accountantYou could also call the Vic State Revenue Office to clarify

  • MarJac replied to the topic Subdivision question in the forum General Property 12 years, 12 months ago

    Best speak with the local Council, and discuss your intentions/plans, they will be able to advise you what their or State planning rules/guidlines say about minimum width of access driveways etc and also iof the existing property, built on the boundary, is an issue or notWithout knowng where the property is it is difficult to advise

  • Others may be able to add but for Final inspection I would look ensure:Property is clean & tidy and carpets etc in the same condition as initialy inspectedNote that  furniture maybe covering up damage to the walls etc however preferably should have been identified in earlier inspectionFixtures and fittings are as expected, has been known that lig…[Read more]

  • MarJac replied to the topic Adding family member to a title in the forum Legal & Accounting 13 years ago

    goldies wrote:
    Hi,I am not putting the family member on the loan docs but want them as a 50% owner.Thanks.

    As said depends on which State but usually fairly easy, often known as a 'Love a Affection' Transfer, see a solicitor who will be able to advise fullyHowever also check with your lender, if the new joint proprietor will not be also become…[Read more]

  • MarJac replied to the topic Types of Apartment in the forum Help Needed! 13 years ago

    Looks / sounds like a Serviced ApartmentThere are differing opinions on these and will depend on your own objectives (income versus capital growth etc):Pro's – Strong Returns (7.2% in this case) & Body Corp Fees, maintainance etc paid by tennantCon's – Can experience low (if any) Capital growth & some lenders don't like them as security (and/or t…[Read more]

  • MarJac replied to the topic Development on <600sqm in the forum Help Needed! 13 years ago

    Definitley speak to the local council, you will find that most Councils will have a minimum subdividable size. it maybe 300 sqm or 250 sqm or something else.If your block doesn't meet the minimum size you may still be able to apply for approval as an 'exception' however you may also need to engage a Town Planner and/or Architect (who may have Town…[Read more]

  • MarJac replied to the topic Who’s doin’ what in 2011? in the forum Just rented out my 2 bed 13 years ago

    Just rented out my 2 bed Flat after repaint & new carpet, was my PPOR for 11 years so have a nice 6 year CGT exemption after moving in with GF. Mmmmm… 2nd months rental a 5 days late, will have to discuss with PM, tennats late or slack processing by PM ??Getting some architects plans for possible reno/extension to GF's (soon to be bride) PPOR a…[Read more]

  • MarJac replied to the topic Broker doesn’t know panel valuer – What next? in the forum Finance 13 years ago

    Also be aware that although you obtain a valuation from a Panel Valuer the lender, in this case St George, may not accept the valuation.A valuation instructed by a lender for 'mortgage purpose' may differ from a valuation instructed for private / Market Value, particularly on a 'what if' scenario To clarify, I have worked for a number of…[Read more]

  • MarJac replied to the topic Would the Home Equity Loan on PPOR for IP be tax deductible? in the forum Finance 13 years ago

    Its the use of the funds not the security used that determine if the costs associated (interest etc) are deductible or notProviding all the funds from the equity loan are used to purchase the IP they should be tax deductible. However as always its always best to seek professional Tax advise

  • MarJac replied to the topic tenant doing capital improvements in the forum Legal & Accounting 13 years ago

    Depending on the actual works/improvements being undertaken, you may need, probably should, obtain consent from your lender. Such changes to the property without the lenders consent could put you in default of the mortgage conditions.If the tenants intend to run a small business from the property and with such "improvements" the lender may…[Read more]

  • MarJac replied to the topic Insurance Cash Settlement Disclosure to Bank in the forum Finance 13 years ago

    Scott No Mates wrote:
    the insurance company has no relationship with your bank, you direct it where to deposit the funds, not your bank.

    The Insurance coy and the bank may have no direct relationship however as the Bank would have a mortgage on the property and this interest would be noted on the insurance policy the Insurance company must…[Read more]

  • MarJac replied to the topic Caveat on new property in the forum Legal & Accounting 13 years, 1 month ago

    The solicitor is making this recomendation to protect YOUR interests, I very much doubt it is a grab for money. Sum may think that $150 To prepare and lodge a caveat, sure this is relativley simple, is a bit much but ask yourself how much is your own professional services are worth?No I'm not a lawyer/solicitor but I get tied of people assuming…[Read more]

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MarJac

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